Haimof of The Haimof Group and Alvandi of City Urban Realty acquire 2 multifamily props. for $6.95 million

April 08, 2013 - Front Section

Kamyar Haimof, The Haimof Group

416-418 W. 49th Street - Manhattan, NY

The Haimof Group and City Urban Realty jointly secure the acquisition of two adjacent multifamily properties comprising 16,200 s/f totaling $6.95 million in the Hells Kitchen neighborhood. Located at 416-418 West 49th St. The properties were acquired from a private family in an off-market transaction.
"We are pleased to add these two terrific assets to our portfolios. Today marks the culmination of twelve months of hard work in the off-market sourcing, negotiation, and structuring of this acquisition in an emerging NYC submarket," said Kamyar Haimof, CEO of The Haimof Group.
"We saw the opportunity to take over and turn around mismanaged and underutilized buildings," said Michael Alvandi, principal of City Urban Realty.
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